Gemini

Bitcoin ETF

Bitcoin

Spot

Spot Bitcoin ETFs net flows were negative on Friday despite significant inflows recorded by BlackRock, Fidelity, Bitwise, and Ark 21Shares Bitcoin exchange-traded funds (ETFs). The Genesis and Gemini situation took a toll on the Bitcoin ETF net flows as <a href="https://coingape.com/blackrock-bitcoin-etf-600-mln-inflow-shields-market-amid-huge-gbtc-outflow/" target="_blank" rel="noopener">GBTC outflow rate</a> grew in the last few days. However, the week was great for Bitcoin ETFs with a $1.7 billion net inflow. 
<h2 id="bitcoin-etfs-recorded-140-million-new-outflow">Bitcoin ETFs Recorded $140 Million New Outflow</h2> 
Spot Bitcoin exchange-traded funds (ETF) witnessed&nbsp;$140 million net outflow on March 1, according to data by Bloomberg and BitMEX Research. This came amid massive $492.2 million GBTC outflow, with Bitcoin ETFs inflow taking a hit. 
Bloomberg ETF analyst James Seyffart said the big outflows from GBTC were almost certainly related to Genesis and Gemini situation. Crypto lender <a href="https://coingape.com/genesis-cleared-to-sell-1-3b-gbtc-shares-will-btc-tank/" target="_blank" rel="noopener">Genesis </a>last month received bankruptcy court approval to sell 35 million GBTC shares worth $1.3 billion. 
Spot Bitcoin ETFs recorded massive trading volumes on March 1. Eric Balchunas, senior ETF analyst at Bloomberg, noted that this was the “third-biggest day ever Wed and Thur. All told $22b traded this week, about a month’s worth of volume in 5 days.” He also looked at the possibility of inflows subsiding in the next few days. 
BlackRock’s iShares Bitcoin ETF (IBIT) saw $202.5 million inflow, falling substantially from the recent largest inflows. Following the latest inflow, BlackRock’s net inflow hit over $7.95 billion and asset holdings <a rel="nofollow" href="https://www.ishares.com/us/products/333011/ishares-bitcoin-trust" target="_blank">jumped</a> over $1o.5 billion. 
Fidelity Bitcoin ETF&nbsp;(FBTC) and&nbsp;Ark 21Shares (ARKB) Bitcoin ETF saw $49.3 million and $55 million inflows, respectively. Bitwise (BITB) and other spot Bitcoin ETFs saw marginally low inflows. VanEck Bitcoin ETF (HODL) saw another outflow of $1.8 million. 
Notably,&nbsp;GBTC recorded another major outflow of $492.4 million after a $598.9 million outflow on Thursday. GBTC net outflows reached over $8.89 billion to date. 
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GHo_9S6XgAALab0?format=png&amp;name=900x900" alt="Image" width="783" height="278"> 
Also Read: <a href="https://coingape.com/bitcoin-supply-shock-bitcoin-etfs-have-already-scooped-up-4-of-total-btc/" target="_blank" rel="noopener">Bitcoin Supply Shock — Bitcoin ETFs Have Already Scooped Up 4% of Total BTC</a> 
<h2 id="btc-price-rally-to-sustain-or-a-fall-ahead">BTC Price Rally to Sustain or a Fall Ahead?</h2> 
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener">BTC price</a> trading sideways in the last 24 hours after a 45% gain last month. Price is currently trading at $62,046, with a 24-hour low and high of $57,093 and $63,913, respectively. Furthermore, the trading volume has decreased by 30% in the last 24 hours, indicating a decline in interest among traders. 
Recent reports have hinted a potential correction in BTC price to $42K after bitcoin halving, giving investors another buy-the-dip opportunity for $100K. 
Bitcoin futures and options open interests (OI) remain at record levels, with total futures OI rising over 1% to $27.26 billion, as per Coinglass data. <a href="https://coingape.com/trending/top-reasons-why-bitcoin-price-will-hit-100k-soon/" target="_blank" rel="noopener">Bitcoin price to $100K</a> prediction remains despite Bitcoin options puts exceeding calls due to sky-high funding rates. 
Also Read: <a title="Binance Burns 2.21 Billion Terra Luna Classic, LUNC Price Skyrockets Over 30%" href="https://coingape.com/binance-burns-2-billion-terra-luna-classic-lunc-price-over-30/" target="_blank" rel="bookmark noopener">Binance Burns 2.21 Billion Terra Luna Classic, LUNC Price Skyrockets Over 30%</a> 
The post <a href="https://coingape.com/bitcoin-etf-net-inflow-last-week-bloomberg-hints-at-fall/">Breaking: Bitcoin ETFs Saw $1.7B Net Inflow Last Week, Bloomberg Analyst Hints At Fall</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: Bitcoin ETFs Saw $1.7B Net Inflow Last Week, Bloomberg Analyst Hints At Fall

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